Platinum Stock has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
KYC with Platinum Stock is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Responsive team|Economic calendar
Cons: No crypto staking
I found Platinum Stock from a review site like this one and the initial impression was positive. But since early this year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Smooth onboarding|Intuitive for beginners
Cons: Live chat only during business hours|Limited social trading features
Platinum Stock has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Demo account available|Transparent fees|Multi-currency support|Fast support response
Cons: Research section could be deeper
After spending for close to eighteen months trying to make Platinum Stock work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Reliable uptime|Real-time alerts|Social trading features|Dividend tracking
Cons: Limited cryptocurrency options|No live chat on mobile
Several red flags with Platinum Stock: (1) They promise unrealistically high returns, (2) They're not registered with Financial Services and Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
I lost a significant amount because Platinum Stock did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Two-factor authentication|Dividend tracking
Cons: Alert system is basic|Withdrawal takes 1-2 business days
If you are reading this considering Platinum Stock - run. I wish I had read more negative reviews through a forum discussion. I thought the positive ones were real. Maybe some are. My experience over for about ten months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Tax reports included|Clean UI
Cons: Limited cryptocurrency options
My card was charged twice by Platinum Stock on the same day. I had to dispute it with my bank. Platinum Stock then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Transparent fees|Detailed reporting|Regular updates
Cons: Minimum deposit could be lower
Do not believe the bonus offer from Platinum Stock. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after seeing their ad online and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Economic calendar|Full transparency|Fast execution|Detailed reporting
Cons: Website design could be more modern|Desktop app not available on Linux
I opened an account with Platinum Stock for a few weeks now ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Risk management tools|Wide product range|Helpful community forum
Cons: None so far